I. General Information
1. Course Title:
Implementing the System Management Plan
2. Course Prefix & Number:
FBMT 1122
3. Course Credits and Contact Hours:
Credits: 4
4. Course Description:
This course continues to build on the foundation of farm business management. The student will complete a farm business financial and enterprise analysis. Sound financial record keeping is an integral component.
5. Placement Tests Required:
6. Prerequisite Courses:
FBMT 1122 - Implementing the System Management Plan
There are no prerequisites for this course.
9. Co-requisite Courses:
FBMT 1122 - Implementing the System Management Plan
There are no corequisites for this course.
III. Course Purpose
Program-Applicable Courses – This course is required for the following program(s):
Name of Program(s)
|
Program Type
|
Essentials in Farm Business Management
|
Certificate
|
IV. Learning Outcomes
1. College-Wide Outcomes
College-Wide Outcomes/Competencies |
Students will be able to: |
Analyze and follow a sequence of operations |
Identify problem areas in selected enterprise budget |
Utilize appropriate technology |
Update computerized records to develop a business analysis. |
Discuss/compare characteristics of diverse cultures and environments |
Prepare/update and/or discuss items needed in an employee handbook |
2. Course Specific Outcomes - Students will be able to achieve the following measurable goals upon completion of
the course:
- Compare risk management tools and product;
- Compare available current agriculture technologies and their effect on different enterprises;
- Determine benefits of ownership vs. leasing of capital assets;
- Evaluate available credit options;
- Create standard operating procedures for labor and management resources;
- Examine enterprise analysis information;
- Compile income and expense data for year-end analysis and tax preparation;
- Refine enterprise budgets;
- Examine historical farm data;
- Identify marketing goals;
- Describe financial ratio indicators of the farm business; and
- Identify marketing strategies.
V. Topical Outline
Listed below are major areas of content typically covered in this course.
1. Lecture Sessions
- Risk management products
- Complete a strengths, weaknesses, opportunities and threats analysis (SWOT)
- Compare at least two different risk management products
- Implications of risk assessment findings to the business
- Current agriculture technologies and their effect on different enterprises
- Problems that technology can address
- Technology options
- Pros/cons for each of the options
- Ownership vs leasing of capital assets
- Advantages of owning capital assets
- Disadvantages of owning capital assets
- Advantages of leasing capital assets
- Disadvantages of leasing capital assets
- Evaluate available credit options
- Local and regional credit sources
- Government funded credit sources
- Current vs term credit lines
- Impact of risk rating on business credit
- Advantages and disadvantages of variable versus fixed rate credit
- Create standard operating procedures for labor and management resources
- Comprehensive labor management handbook
- Advantages and disadvantages of creating a labor handbook/plan
- Complying with federal and state labor laws
- Enterprise analysis information
- Utilizing enterprising in accounting
- Completing a business enterprise analysis
- Implications of the analysis summary to the business
- Review of enterprise output and comparison to benchmarks
- Income and expense data for year end analysis and tax preparation
- Income and expense data in the accounting record system
- Validating the accuracy of the accounting records
- Output reports for yearend closeout and tax preparation
- Enterprise budgets
- Comparing planned vs. actual
- Modifying the enterprise budget
- Historical farm data
- The value of farm historical data
- Business ratio trends
- Historical production trends
- Marketing goals
- Cash flow needs to operate the business
- Potential market outlets
- Marketing tools available (contracts)
- Advantages of a marketing plan
- Financial ratio indicators of the farm business
- Identifying business ratios
- Financial ratios and how they are calculated
- Completing a financial ratio scorecard
- Marketing strategies
I. General Information
1. Course Title:
Implementing the System Management Plan
2. Course Prefix & Number:
FBMT 1122
3. Course Credits and Contact Hours:
Credits: 4
4. Course Description:
This course continues to build on the foundation of farm business management. The student will complete a farm business financial and enterprise analysis. Sound financial record keeping is an integral component.
5. Placement Tests Required:
6. Prerequisite Courses:
FBMT 1122 - Implementing the System Management Plan
There are no prerequisites for this course.
9. Co-requisite Courses:
FBMT 1122 - Implementing the System Management Plan
There are no corequisites for this course.
II. Transfer and Articulation
III. Course Purpose
1. Program-Applicable Courses – This course is required for the following program(s):
Name of Program(s)
|
Program Type
|
Essentials in Farm Business Management
|
Certificate
|
IV. Learning Outcomes
1. College-Wide Outcomes
College-Wide Outcomes/Competencies |
Students will be able to: |
Analyze and follow a sequence of operations |
Identify problem areas in selected enterprise budget |
Utilize appropriate technology |
Update computerized records to develop a business analysis. |
Discuss/compare characteristics of diverse cultures and environments |
Prepare/update and/or discuss items needed in an employee handbook |
2. Course Specific Outcomes - Students will be able to achieve the following measurable goals upon completion of
the course:
- Compare risk management tools and product;
- Compare available current agriculture technologies and their effect on different enterprises;
- Determine benefits of ownership vs. leasing of capital assets;
- Evaluate available credit options;
- Create standard operating procedures for labor and management resources;
- Examine enterprise analysis information;
- Compile income and expense data for year-end analysis and tax preparation;
- Refine enterprise budgets;
- Examine historical farm data;
- Identify marketing goals;
- Describe financial ratio indicators of the farm business; and
- Identify marketing strategies.
V. Topical Outline
Listed below are major areas of content typically covered in this course.
1. Lecture Sessions
- Risk management products
- Complete a strengths, weaknesses, opportunities and threats analysis (SWOT)
- Compare at least two different risk management products
- Implications of risk assessment findings to the business
- Current agriculture technologies and their effect on different enterprises
- Problems that technology can address
- Technology options
- Pros/cons for each of the options
- Ownership vs leasing of capital assets
- Advantages of owning capital assets
- Disadvantages of owning capital assets
- Advantages of leasing capital assets
- Disadvantages of leasing capital assets
- Evaluate available credit options
- Local and regional credit sources
- Government funded credit sources
- Current vs term credit lines
- Impact of risk rating on business credit
- Advantages and disadvantages of variable versus fixed rate credit
- Create standard operating procedures for labor and management resources
- Comprehensive labor management handbook
- Advantages and disadvantages of creating a labor handbook/plan
- Complying with federal and state labor laws
- Enterprise analysis information
- Utilizing enterprising in accounting
- Completing a business enterprise analysis
- Implications of the analysis summary to the business
- Review of enterprise output and comparison to benchmarks
- Income and expense data for year end analysis and tax preparation
- Income and expense data in the accounting record system
- Validating the accuracy of the accounting records
- Output reports for yearend closeout and tax preparation
- Enterprise budgets
- Comparing planned vs. actual
- Modifying the enterprise budget
- Historical farm data
- The value of farm historical data
- Business ratio trends
- Historical production trends
- Marketing goals
- Cash flow needs to operate the business
- Potential market outlets
- Marketing tools available (contracts)
- Advantages of a marketing plan
- Financial ratio indicators of the farm business
- Identifying business ratios
- Financial ratios and how they are calculated
- Completing a financial ratio scorecard
- Marketing strategies